Sanlam
iTrade account and trading costs for Local and Global Exchanges

Local JSE

Offshore

Monthly
Costs. Note all costs exclude VAT, except iView.

iView:

iView
clients cannot trade real shares on the JSE, but will be able to do demo
trades on our Virtual Trade Simulator (VTS) and will get limited access to
some of the information and features on our website. Registration is quick
& immediate.

R200
per year (VAT included), first month or part free.

Please
note this amount is payable up front for the year via EFT before the first
month expires. Existing iTrade and SPW clients can register for iView
completely free of charge.

iTradeGlobal:

Free
20 day iTradeGlobal Demo account.

iTrade
Standard:

Full
access to all the features on the website including Direct Market Access
(DMA) to the JSE, news & daily market commentaries, comprehensive
charting, fundamental data on every listed company, company research and
trading tools. On the Trading page iTrade Standard clients get free live
prices with market depth (best 5 bids and offers with volumes). Free live
prices are limited to 150 per month.

R50
plus VAT per month.

Monthly
cost waived if brokerage paid is more than R300 in the month. . (That is
equal to only one trade of R45,000 or five very small trades.)

R5,000
deposit required to open acc.

iTradePro:

Clients
have all the features of iTrade clients plus they will have unlimited live
prices. Clients can also view their portfolios and watchlists with live
prices as often as they want, unlimited.

R130
plus VAT per month.

Monthly
cost waived if brokerage paid is more than R700 in the month.

R5,000
deposit required to open acc.

Offshore
Own Foreign Allowance:

For
clients using their own foreign allowance of R1m in travel allowance (no SARB
approval needed) or R10m per year (with SARB approval). Includes
Safe Custody fees and settlement costs, corporate actions, clearing fees and
custody charges as well as free Level 1 live prices for most of Europe.

0.25%
per year, levied monthly in arrears on the value of the offshore portfolio. No cost for the local JSE BDA account if you trade only offshore.

Offshore
Sanlam Asset Swap:

Clients
who wish to make use of the asset swap capability of Sanlam deposit Rands in
their local accounts and Sanlam will convert it to foreign currency.
Especially useful for Trusts and Companies. Includes Safe Custody fees and
settlement costs, corporate actions, clearing fees and custody charges as
well as free Level 1 live prices for most of Europe.

0.5%
per year, levied monthly in arrears on the value of the offshore portfolio. No
cost for the local BDA account if you trade only offshore.

Broking Fees &
Trading Costs. Note all costs exclude VAT.

Brokerage
Costs:

R75
plus

R0 to
R500,000 = 0.5% of value of trade

R500,001
to R1m = 0.4%

Above
R1m = 0.35%

Commissions
and minimums differ from Exchange to Exchange. In general broking fees are
currently in the order of 0.35% with a minimum of EUR20 per trade. US
Exchanges charge a fee in US cents per share traded, generally 3 US cents per
share or $0.03 with a minimum of $20 per trade. Click
here for a list of all the
exchanges, commissions, minimums and live price fees.

Taxes:

Securities
Transfer Tax (STT) at 0.25% is charged on the value of purchases only. On all
trades there is a STRATE fee (SET) of 0.005787% based on the value of the
share transaction with a minimum of R10.71 and a maximum of R70.02. An
investor protection levy of 0.0002% also applies to all trades. VAT is
charged on all of the above and the broking fee, but not on STT.